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128 E Katella AVE Orange, CA 92867
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Key Details
Sold Price $3,100,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 13,385 sqft
Price per Sqft $231
MLS Listing ID PW22085358
Sold Date 08/31/22
HOA Y/N No
Year Built 1965
Lot Size 0.660 Acres
Acres 0.66
Property Sub-Type Office
Property Description
Owner/user (opportunity to occupy 57% or more of the building) or investor opportunity strategically located in the City of Orange. The City of Orange is an affluent Orange County Submarket that has ideal proximity to both residential and commercial density which ensures the property is busy during all times of the day, every day of the week.
This opportunity will yield an owner user the ability to occupy approximately 7,605 SF of 2nd floor office space (elevator served) or an investor to lease out the 2nd floor at a market rate to increase cashflow. The NeighborWorks of Orange County Multi Tenant Office Building offers multiple suites, multi story configurations and ample parking for all.
The 128 E Katella building is ideally located near the intersection of Katella Ave (30,000 vehicles per day) and Glassell St (21,000 vehicles per day) for a total of over 51,000 vehicles passing the intersection daily.
Traditional, linear configuration are conducive to high occupancy, optimal rents and low tenant improvement costs over the term of ownership keeping capital expenditures to a minimum.
The 128 E Katella building will be marketed free and clear of any existing financing, creating an opportunity to place creative financing tailored to an investor's or owner users desired hold period and risk profile to further enhance returns.
Location
State CA
County Orange
Area 72 - Orange & Garden Grove, E Of Harbor, N Of 22 F
Zoning Commercial Professional
Interior
Heating Central
Cooling Central Air
Laundry None
Building
Lot Description Lot 20000-39999 Sqft
Story 2
Water None
Others
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.5
SIGN ON PROPERTY 1
TERMS 1031 Exchange,Cash,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
SHOW CONTACT TYPE Agent
SHOW CONTACT NAME Jon Davis
SHOW CONTACT PH 949-558-0302
SHOW INSTRUCTIONS DO NOT DISTURB TENANTS OR GO DIRECT. Contact Jon Davis (jon.davis@svn.com or 949-558-0302) for all questions. Submit offer on AIR PSA with proof of funds and pre-approval letter.
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Bought with NONMEMBER MRML